Go Colors to raise $25 mn for expansion thrust

Clothing firm Go Colors will raise $ 25 million or Rs 165 crore early 2016 to fuel its growth and expansion plans, according to an agency report. Earlier this year, the company had raised $ 10 million from Sequoia Capital to grow the brand.

The company, which is also looking at doubling its retail network by 2016-17, will invest Rs 30 crore over the next 6-9 months on footprint expansion.

According to Go Colors co-founder and Deputy Managing Director Gautam Saraogi, the company is on track to achieve a Rs 100 crore turnover for 2015-16 and by financial year 2016-17 it will double that figure to Rs 200 crore,

The company will invest around Rs 30 crore over the next six to nine months to double its footprints across different sale formats, he said. (SH)